OKEx Set to Release Token Launch Platform OK Jumpstart Competing Binance and Huobi
OKEx, one of the world’s leading cryptocurrency exchange by trading volume, is preparing a platform called OK Jumpstart for new token listing, according to the exchange’s CEO.
The token Launchpad will enable new projects to sell their tokens directly to OKEx users without going through an ICO. In such a model, Binance Launchpad has proven extremely successful, with token sales oversubscribed accompanied by overwhelming market demand for the newly listed assets.
Days ago, major crypto exchange Huobi has announced their token launching platform dubbed Huobi Prime to compete with Binance Launchpad, though the exchange stated Huobi Prime isn’t like Binance’s offering.
Upon the news, many Chinese investors turn to Jay asking when OKEx will roll out such a platform as none of the “big three” (Binance, Huobi, OKEx, originated from China) would like to be outdone by others. OKEx CEO Jay Hao today responded on Weibo (Twitter-like social media in China) that OKEx is about to launch the sales platform for utility token called “OK Jumpstart” to support high-quality projects and early entrepreneurs.
It seems both OKEx and Huobi have been acting fast and eagerly looking to repeat the success of Binance Launchpad at a time when the market sentiment is still high.
When it comes to the recent buzzword IEO (initial Exchange offering), Jay Hao said that OKEx had considered and practiced the mode early in July last year. He believes IEO is not only a good financing approach, but also saves a lot of money and energy for high-quality projects and early entrepreneurs who can focus more on project development and community operations.
According to Jay Hao, the token launch platform OK Jumpstart is ready to go online anytime in terms of technology and product. OKEx will detect and support entrepreneurs and high-quality projects that contribute to the development of the blockchain industry.